Technical Momentum and Price Action
As of 9 February 2026, V2 Retail Ltd’s stock price closed at ₹1,987.45, down 2.86% from the previous close of ₹2,045.90. The intraday range saw a high of ₹2,018.05 and a low of ₹1,974.50, reflecting increased volatility. The stock remains well below its 52-week high of ₹2,572.00 but comfortably above the 52-week low of ₹1,398.00, indicating a wide trading band over the past year.
The recent price decline aligns with a shift in the technical trend from sideways to mildly bearish, signalling a potential weakening in upward momentum. This shift is corroborated by several key technical indicators.
MACD and Momentum Indicators
The Moving Average Convergence Divergence (MACD) indicator, a widely used momentum oscillator, currently shows a mildly bearish signal on both weekly and monthly charts. This suggests that the short-term momentum is losing strength relative to the longer-term trend, often a precursor to further price corrections or consolidation phases.
Complementing this, the Know Sure Thing (KST) indicator also reflects a mildly bearish stance on weekly and monthly timeframes, reinforcing the view of diminishing bullish momentum. The On-Balance Volume (OBV) indicator, which tracks volume flow, similarly indicates mild bearishness, implying that selling pressure may be gradually increasing.
RSI and Overbought/Oversold Conditions
The Relative Strength Index (RSI) on both weekly and monthly charts currently shows no definitive signal, hovering in a neutral zone. This suggests that the stock is neither overbought nor oversold, leaving room for either a rebound or further decline depending on upcoming market catalysts.
Moving Averages and Bollinger Bands
Daily moving averages present a mildly bullish picture, indicating that short-term price averages remain above longer-term averages, which can provide some support to the stock price. However, the Bollinger Bands reveal a mixed scenario: weekly bands are bearish, signalling increased volatility and potential downward pressure, while monthly bands are mildly bullish, suggesting that longer-term volatility remains contained and there may be underlying support.
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Dow Theory and Broader Trend Analysis
According to Dow Theory assessments, the weekly trend is mildly bearish, while the monthly trend shows no clear directional bias. This divergence suggests that while short-term price action is under pressure, the longer-term trend remains uncertain, requiring investors to monitor developments closely.
Comparative Performance Against Sensex
V2 Retail’s recent returns have lagged behind the benchmark Sensex index. Over the past week, the stock declined by 0.49%, whereas the Sensex gained 1.59%. The one-month and year-to-date returns for V2 Retail are significantly negative at -13.38% and -18.75% respectively, compared to the Sensex’s modest declines of -1.74% and -1.92%. However, over longer horizons, V2 Retail has outperformed substantially, with a three-year return of 2,224.50% versus Sensex’s 38.13%, and a ten-year return of 3,736.78% compared to Sensex’s 239.52%. This long-term outperformance underscores the company’s strong growth trajectory despite recent headwinds.
Mojo Score and Analyst Ratings
MarketsMOJO assigns V2 Retail a Mojo Score of 51.0, reflecting a Hold rating, downgraded from a previous Buy on 5 January 2026. The Market Cap Grade stands at 3, indicating a mid-cap status with moderate market capitalisation. This downgrade aligns with the technical deterioration observed and suggests a cautious stance among analysts, balancing the company’s robust fundamentals against near-term technical weakness.
Investment Implications and Outlook
Investors should note the mixed technical signals: while daily moving averages offer some bullish support, the weekly and monthly momentum indicators lean towards mild bearishness. The neutral RSI suggests that the stock is not yet oversold, implying potential for further downside or a stabilisation phase. Given the stock’s significant long-term outperformance, the current technical softness may represent a consolidation rather than a reversal of the uptrend.
Market participants are advised to monitor key support levels near ₹1,950 and resistance around ₹2,050. A sustained break below support could confirm a deeper correction, while a rebound above resistance may signal a resumption of the bullish trend. The broader Garments & Apparels sector’s performance and macroeconomic factors will also influence V2 Retail’s trajectory.
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Sector Context and Market Positioning
Within the Garments & Apparels sector, V2 Retail remains a prominent name, benefiting from strong brand recognition and a diversified product portfolio. However, the sector has faced headwinds from fluctuating raw material costs and changing consumer preferences, which have impacted margins and growth visibility.
V2 Retail’s technical deterioration may partly reflect these sectoral challenges, as well as broader market volatility. Investors should weigh these factors alongside the company’s solid long-term fundamentals and historical outperformance when considering portfolio allocations.
Conclusion
V2 Retail Ltd’s recent technical parameter changes signal a shift towards mildly bearish momentum, with key indicators such as MACD, KST, and OBV pointing to weakening price strength. Despite this, daily moving averages and monthly Bollinger Bands offer some bullish support, creating a nuanced technical landscape. The downgrade from Buy to Hold by MarketsMOJO reflects this cautious outlook.
While short-term price action suggests potential consolidation or correction, the company’s impressive long-term returns and sector positioning remain compelling. Investors should adopt a measured approach, monitoring technical support levels and sector developments closely before making significant moves.
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